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PointState Capital Portfolio holdings

AUM $7.82B Turnover 60.87%
1-Year Est. Return 43.51%
This Fund
S&P 500
This Quarter Est. Return
+12.96%
1 Year Est. Return
+43.51%
3 Year Est. Return
+157.95%
5 Year Est. Return
+295.76%
10 Year Est. Return
+2,156.01%
AUM
$6.7B
AUM Growth
+$140M
Cap. Flow
+$450M
Cap. Flow %
6.73%
Top 10 Hldgs %
44.29%
Holding
69
New
16
Increased
18
Reduced
15
Closed
12
Avg Time Held Equity + Options
0.6 years
Top 10 Avg Time Held Equity + Options
0.4 years
Top 20 Avg Time Held Equity + Options
0.6 years
Avg Time Held Equity only
0.7 years
Top 10 Avg Time Held Equity only
0.4 years
Top 20 Avg Time Held Equity only
0.6 years

Top Buys

Rank Stock Value
1
STUB icon
StubHub Holdings
STUB
+$380M
2
CRS icon
Carpenter Technology
CRS
+$177M
3
NTRA icon
Natera
NTRA
+$156M
4
RBRK icon
Rubrik
RBRK
+$146M
5
TLN icon
Talen Energy Corp
TLN
+$103M

Top Sells

Rank Stock Value
1
LITE icon
Lumentum
LITE
+$241M
2
BAC icon
Bank of America
BAC
+$144M
3
EWY icon
iShares MSCI South Korea ETF
EWY
+$134M
4
XYZ icon
Block Inc
XYZ
+$127M
5
ILMN icon
Illumina
ILMN
+$114M

Sector Composition

Rank Sector Weight
1 Miscellaneous 16.92%
2 Healthcare 15.8%
3 Technology 15.73%
4 Industrials 11.53%
5 Financials 9.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
METC icon
51
Ramaco Resources Class A
METC
$532M
$10.8M 0.16%
+325,946
New +$7.58M
2025 Q3
0 quarters
BMA icon
52
Banco Macro
BMA
$4.08B
$9.88M 0.15%
233,733
-201,641
-46% -$12.3M
2024 Q2
5 quarters
ALVO icon
53
Alvotech
ALVO
$1.84B
$8.59M 0.13%
1,049,039
– –
2024 Q2
5 quarters
SRE icon
54
Sempra
SRE
$53.6B
$6.85M 0.1%
76,129
– –
2025 Q1
2 quarters
SUPV icon
55
Grupo Supervielle
SUPV
$614M
$4.14M 0.06%
836,762
-2,705,037
-76% -$23.6M
2024 Q2
5 quarters
LOMA icon
56
Loma Negra
LOMA
$1.16B
$2.41M 0.04%
+327,443
New +$3.26M
2025 Q3
0 quarters
BAC icon
57
Bank of America
BAC
$359B
– –
-3,044,002
Closed -$144M –
CYBR icon
58
DELISTED
CyberArk
CYBR
– –
-141,435
Closed -$57.5M –
DDOG icon
59
Datadog
DDOG
$96.7B
– –
-239,108
Closed -$32.1M –
DHT icon
60
DHT Holdings
DHT
$4.02B
– –
-885,740
Closed -$9.57M –
EWY icon
61
iShares MSCI South Korea ETF
EWY
$22.8B
– –
-1,868,227
Closed -$134M –
FRPT icon
62
Freshpet
FRPT
$3.27B
– –
-357,092
Closed -$24.3M –
GRAB icon
63
PUT
Grab
GRAB
$11.9B
– –
-3,000,000
Closed -$15.1M –
LITE icon
64
Lumentum
LITE
$81.2B
– –
-2,532,821
Closed -$241M –
NVDA icon
65
NVIDIA
NVDA
$5.34T
– –
-129,695
Closed -$20.5M –
SPY icon
66
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$813B
– –
-2,000,000
Closed -$1.24B –
XYZ icon
67
Block Inc
XYZ
$45.6B
– –
-1,869,376
Closed -$127M –
AMRZ icon
68
Amrize Ltd
AMRZ
$19.8B
– –
-578,633
Closed -$28.7M –
1 2
3

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BFG
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PFA
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FFM
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EMPI
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LAM
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IMCOOI
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PointState Capital's Q3 2025 Portfolio in Review

As of Q3 2025, PointState Capital held 69 positions worth $6.7B, up 2.1% from $6.56B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

PointState Capital deployed $450M of net new capital in Q3 2025, opening 16 new positions and adding to 18 existing holdings. Its largest new stake was StubHub Holdings: 20,706,003 shares worth $349M.

By sector, the portfolio is most concentrated in Miscellaneous at 17% of assets, down from 32% a quarter earlier, followed by Healthcare and Technology.

On the sell side, the largest reduction was Illumina, an estimated $114M trimmed.

  • PointState Capital's largest Q3 2025 buy was StubHub Holdings: 20,706,003 shares worth $349M.
  • PointState Capital added most to Carpenter Technology in Q3 2025, an estimated $177M increase.
  • PointState Capital's biggest Q3 2025 reduction was Illumina, cutting an estimated $114M.
  • PointState Capital fully exited Lumentum in Q3 2025, selling an estimated $241M.
  • PointState Capital's ten largest holdings make up 44% of its $6.7B portfolio in Q3 2025.
  • PointState Capital opened 16 new positions and closed 12 in Q3 2025.
  • PointState Capital's portfolio value rose 2.1% quarter-over-quarter to $6.7B.

Based on PointState Capital's 13F filing for Q3 2025, filed 14 Nov 2025.